Order. Today we will receive test her name from the honorable Federal Reserve vice chairman for supervision. The honorable with mcwilliams, chairman of the fdic, and the honorable ronnie hood, chairman of the ncua welcome to all of you. This hearing provides a committee an opportunity to examine current state of and recent activities related to regulatory and supervisory activities of these agencies. Its been over a year now since the enactment of s2155 the Economic Growth regulatory relief and Consumer Protection act and the work of the agencies to implement most of the law of provisions. Including the tailoring rules for u. S. Banks and u. S. Operations in foreign banks. Your agency should also carefully review the existing supervisory frameworks and make any necessary adjustments to appropriately and line them with the tailoring rules and requirements. Im july 30th, 2019 all of the republican Banking Committees and i sent a letter to the federal banking regulators urging your agency
Of december and november was a very strong month for stocks, even though you did see some declines on black friday youre looking at the best returns we saw since june for all of the major averages. Last week again, you did see some big gains too right now the dow, s p and nasdaq are still less than 1 to 2 of the intraday highs with these gains, youll see them challenging that as tom mentioned. Although, i also remember last the first trading day of december last year. Not quite as much fun. I still have some night mares about that. Would not be the only one with scars leftover from that. I think the dow was down 15 at one point in december last year we were having a great year. Markets were up, not up like they are this year. Bottomed on christmas eve, december 24th and saw things take off from there. Its been a very strong year. Will a santa claus rally power the s p 500 and dow to their best year in a generation . Could happen. Were up a lot. What will that take to get there, 5 . Pro
Lets go to susan lee who is outside the apple event. You have been there all afternoon what are some of the big take aways for us . Well, i can tell you that apple has a big array of Services Hardware and software coming our way. Lets start off with tim cook taking the stage today to present to us a lot of new new goods when it comes to tech and shocking the market in technology and media by telling us when the apple tv plus service is come, which is november 1st. Tv plus service is coming, which is november 1st. So much cheaper than anticipated, 4. 99 a month, thats cheaper than disney plus later on released this year, 6. 99. And netflixs popular package coming in at 12. 99 a month. You get the streaming service for free if you buy an iphone, ipad or mac. That hurt shares of Netflix Disney and roku. They launched a new streaming service as well. It still is all about the hardware. The iphone 11, the base price here is 700. You get a pro which comes in at a thousand dollars. A pro max
The father of the house senior conservative tells cnbc that he will do whatever it takes to stop a no deal brexit. Boriss outrageous will bring together the divided majority and decide which theyll go for and what the combination should be. China is willing to resolve the trade war with a calm attitude boeing shares jump topping the cac 40 as units help deliver better than expected first half profit well, a very warm welcome to street signs theres been Major Political developments across europe in the u. K. And italy we will get out to steve a little bit later on in the program. Were going to kick off with her in italy and just to note for you before we head over to rome, conti is due to make a statement before meeting with the president. He is expected to be offered a freshman date. The markets have now been open for about an hour and we are seeing gains across the italian index. Its currently up about 1. 3 and green across the board for the italian banks performing well from the auto
Bullard, a fed governor, who wants a 50 basis point cut in rates in the next fed meeting which is this month. Also helping, treasury yields as of now, not inverted. The dow industrials are going to be up over 200 points, probably erasing all of yesterdays loss. The s p up just short of 1 . The nasdaq up a full 1 . Going up at the opening bell. Now to britain. Boris johnson lost the vote on britain crashing out of the European Union. There may now be a general election and brexit may be delayed until next year. That means a trade deal with america is not coming any time soon. Now this. Winston churchills grandson, a conservative, voted against boris. Hes been expelled from the conservative party which was the party of his grandfather, winston churchill. The chaos continues. This news just breaking. Google has been fined 170 million for illegally collecting information on children, parents were not aware of that collection of information. Separately, a group of state attorneys general wi